How to get education loan from Bank of Baroda?

Bank of Baroda Education Loan: Bank of Baroda is providing education loan to meritorious students for pursuing higher studies abroad in India or outside India. any student Bank of Baroda Education loan With this you can fulfill your dream of education. The bank is providing instant education loan (Instant Loan for Students) to the customers.

in present time Bank of Baroda Education Loan Interest Rate 8.50% p.a. starts from Under this loan, you can get a loan up to a maximum of Rs 150 lakh.

In this article, we will know in detail what is Bank of Baroda Education Loan, what is the interest rate, eligibility, documents of this loan and how can we apply for Bank of Baroda Student loan, etc., so you can read this article read till the end.

Bank of Baroda Education loan in Hindi

Bank of Baroda offers various types of education loan to its customers. The interest rate and loan amount are different in different loan schemes. Tax benefits are also given to the beneficiary under section 80E of the Income Tax Act. The maximum loan tenure for Bank of Baroda Education Loan is 15 years.

You do not need to provide any collateral for loans up to Rs.40 lakhs, which are only for identified premier institutions. The maximum loan amount for studies in India is Rs.120 lakhs and for studies abroad the maximum loan amount is Rs.150 lakhs.

This loan can be taken by any student for the expenses related to his education such as fees, living expenses, commuting expenses etc. Since BOB Education loan comes under the category of an unsecured loan, your CIBIL score plays an important role in it.

You can apply for Bank of Baroda Student loan both online and offline. You can also apply for this loan through Vidyalakshmi Education Loan Portal.

You can get the information about the installment of how much rupees you will have to pay at the time of loan payment with the help of BOB Education loan EMI Calculator.

HIGHLIGHTS:

loan name	Bank of Baroda Education Loan 2022
name of lender	Bank of Baroda
beneficiary	student
loan tenure	15 years
Rate of interest	Starting from 8.50% p.a.
loan amount	For studies in India – up to Rs 120 lakh For studies abroad – up to Rs 150 lakh
application mode	online / offline
moratorium period	Course Duration + 1 Year
official website	www.bankofbaroda.in

Bank of Baroda Education loan interest rate 2022

Bank of Baroda Education Loan Interest rate 8.50% p.a. starts from. Before applying for a loan, you need to know about its interest rate. The bank offers many types of education loans, whose interest rates are also different.

Customers with good income and good credit profile can avail the Bank’s attractive Education Loan interest rates.

Bank of Baroda Education Loan Benefits and Features

• Any student studying in India or abroad, to meet all the expenses related to his education Bank of Baroda student loan can apply for.
• Beneficiary student can take a maximum loan amount of Rs. 120 lakhs for studies in India and up to Rs. 150 lakhs for studies abroad.
• Beneficiary is also given the benefit of tax benefits on education loan under section 80E of Income Tax Act 1961.
• Only resident of India can apply for Bank of Baroda Education loan.
• Before applying for the loan, the student has to take admission in a recognized educational institution in India or abroad.
• Starts from BRLLR+0.25% for studies in India and BRLLR+1.75% for studies abroad.
• You can pay your student loan through online net banking, mobile banking, EMI or by visiting your nearest bank branch.
• The applicant student will have to provide a co-applicant. Parents/guardians can be co-applicants.

BOB Education loan Schemes

Bank of Baroda offers various types of education loans to its customers which are as follows:

Baroda Vidya Student loan

• This loan is given to the beneficiary for school education in any recognized school.
• The advance loan amount under Baroda Vidya loan is Rs 4 lakh.
• A minor can also get this loan.
• You can avail this loan to pay your school fees.
• No Processing Fee |
• no security |
• There is no age restriction for this loan.
• No Margin |
• The loan amount will have to be repaid in 12 equal monthly installments.
• No Documentation Charges |

Documents:

• KYC of applicant and co-applicants
• academic records
• proof of admission
• Entrance Test Result (if applicable)
• DETAILS OF COST OF STUDY/SCHEDULE OF EXPENSES
• Income proof for salaried co-applicant / guarantor (if applicable)
• Bank account statement for last 6 months etc.
• Property documents (if applicable)

Baroda Knowledge Loan

• This loan can be taken for higher studies in India.
• No Processing Fee |
• No Documentation Charges |
• No margin on loan up to Rs.4 lakh.
• There is no age limit to apply for Baroda Gyan Loan.
• No protection up to 7.50 lakhs.
• Free Debit Card |
• To apply for this loan, the student must be a resident of India.
• After class 12, admission will have to be taken in a recognized institution.
• Students doing graduation, post-graduation, professional and other courses in India can apply for this BOB Education loan.

Documents:

• KYC of applicant and co-applicants
• academic records
• proof of admission
• Entrance Test Result (if applicable)
• DETAILS OF COST OF STUDY/SCHEDULE OF EXPENSES
• Income proof for salaried co-applicant / guarantor (if applicable)
• Bank account statement for last 6 months etc.
• Property documents (if applicable)

Baroda Scholar Loan

• A student can take advantage of this loan for pursuing professional/technical studies abroad.
• There is no age limit to apply for this loan from Bank of Baroda Education loan.
• The maximum loan amount is Rs.150 lakhs.
• This education loan can be availed only for studying abroad.
• No Processing Fee |
• No margin on loan up to 4 lakhs.
• No security on loans up to 7.50 lakhs.
• No Documentation Charges |
• The applicant student must be an Indian citizen.
• The maximum loan tenure is 15 years.

Documents:

• KYC of applicant and co-applicants
• academic records
• proof of admission
• Entrance Test Result (if applicable)
• DETAILS OF COST OF STUDY/SCHEDULE OF EXPENSES
• Income proof for salaried co-applicant / guarantor (if applicable)
• Bank account statement for last 6 months etc.
• Property documents (if applicable)

Baroda Education Loan to Students of Premier Institutions

• No Processing Fee |
• No Margin |
• Students pursuing graduation, post-graduation, professional and other courses in India BOB Education loan can take advantage of.
• Maximum loan amount up to Rs.80 lakh can be availed.
• The maximum tenure of the loan is 15 years.
• Parents, guardians, friends and relatives can be co-obligants.
• Girl students are given a rebate of up to 0.5% in the interest rate.

Bank of Baroda Skill Loan Scheme

• The benefit of this skill loan scheme is given to the students studying technical courses offered by training institutes, polytechnics etc.
• No Processing Fee |
• No Margin |
• no need for security
• No Documentation Charges |
• Under the Bank of Baroda Skill Loan Scheme, you can get a minimum loan amount of Rs 5,000 and a maximum of Rs 1,50,000.
• Maximum loan tenure is 7 years.

Bank of Baroda education loan documents required

• application
• proof of admission
• passport size photo
• Income proof of co-borrower or guarantor
• collateral document
• bank details
• proof of address : Voter ID Card / Aadhaar Card / Pan Card / Passport / Driving License
• identity proof : PAN Card / Aadhaar Card / Driving License / Passport / Voter ID
• academic documents ,
  • mark sheet of entrance exam
  • 10th and 12th exam mark card
  • Marksheet of GRE/IELTS/TOFEL/GMAT
  • Any scholarship documents if applicable
  • Marks card of any further education

How to apply for Bank of Baroda Education Loan?

If you fulfill all the conditions of this student loan, then you can apply for it both online and offline. The procedure to apply is given below:

Bank of Baroda Education loan apply online

• In the option of Loans on the home page of the website education loan The option of will appear, click on it.
• A list of all the loans will appear in front of you.
• To apply, you will see the option of Apply Now here, click on it.
• After clicking, the loan application form will open in front of you.
• Enter the information sought in the form and submit the form.
• After this the bank employees will contact you and the loan process will be continued further.

Apply Offline for BOB Education Loan

• First of all you have to go to your nearest branch of Bank of Baroda.
• Will have to contact the bank employee.
• The bank employee will provide all the information related to education loan.
• Then your documents will be verified.
• Then you will be given an application form.
• Enter the information sought in the form, attach your documents and submit it to the same bank.
• In this way your offline application will be done.

Bank of Baroda Education Loan Customer Care Number

• Toll Free Number : 1800 258 44 55 / 1800 102 44 55

conclusion

In this article we have given you How to get Bank of Baroda education loan Complete information about has been provided. Any student whose financial condition is bad can avail Bank of Baroda Education Loan for pursuing higher studies in India or abroad.

You can also apply for this student loan by calling the Bank of Baroda Customer Care number. You can also comment us for more information.

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